Abolish ATM/Card Transaction Charges
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I have a Savings Bank Account with Axis Bank. To my surprise, I was charged Rs.700 in one month just for transacting in ATM's beyond my limit, which is set to 5 transactions per month.
Every transaction after the free transaction limit is charged @ Rs 20 per transaction. The concept of metro and non-metro transactions makes it even worse.
We don't have the option of using ATM cards everywhere. A lot of transactions are made in cash, and we need to draw cash from ATMs for this. Charging customers so much is ridiculous.
The average urban dweller needs to draw money at least 5 to 10 times a month, especially given the upper limit on per-transaction withdrawals. Sometimes the requirement can be as much as 15 withdrawals per month, if the person deals with cash a lot.
I am asking the RBI Governor to mandate a new policy that asks banks to increase ATM withdrawal and transaction limits so that customers are not charged for accessing their own money.
Sign my petition and share it. This decision impacts all of us.
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